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Blockchain

Bumper Finance Announces Price Protection Against Market Volatility

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London, United Kingdom–(Newsfile Corp. – November 15, 2021) – Bumper Finance has announced Price Protection Against Market Volatility. The financial world is seeking to migrate assets on-chain to take advantage of the utilities of DeFi smart contracts in developing their financial instruments for the Web 3.0 economy, an initiative that is often set back by the volatile nature of the cryptocurrency markets.

This is especially true when compared to traditional markets, where asset price-protection is commonplace. Price protection of on-chain assets is one possible use of DeFi that is currently underexploited. Bumper Finance is announcing a new price-protection DeFi protocol that fills this market gap.

The protocol lets takers of protection (Takers) pay USDC premiums to set a price-floor for the current asset. They must also stake $BUMP, the native token of the protocol. The asset is staked and a representative token (which can be deployed into the ERC-20 ecosystem) is provided in its place. After two weeks, Takers can redeem the policy at any time at the value they set, irrespective of the current asset price, and return the representative token to complete the policy and receive its value.

The protocol is capitalised by the makers of this protection (Makers) and the protocol’s capital reserves. Makers earn a yield on their USDC deposits, and can participate in a low, medium, and high-risk pool to earn it. The protocol rebalances these pools in response to the market to ensure collateral-policy ratios are appropriate. There are further mechanisms in place to guarantee policies, including opening pools to arbitrage bots to rebalance it, and a USDC prudential reserve.

Bumper Finance pays out both policies and yield in USDC. It follows the trend of companies using the USDC stablecoin when conducting business on-chain. Visa, for example, did similar when it allowed transactions to be settled with USDC, in partnership with Crypto.com. As well as the USDC, the staked BUMP token, which is the protocol’s native governance and utility token, is redeemed by Takers. It is also earned by Makers participating in the yield-bearing pools alongside their USDC.

Although there are insurance-type protocols which protect assets in the case of Layer 2 error, smart contract risk, exploits and transaction completion risk, Bumper Finance is the first protocol to offer generalised price-protection for the assets it supports. On launch, the asset is ETH, but there are plans to increase the available asset pool after the protocol goes live. It has also planned an upcoming partnership with Panther to ensure ‘privacy by default’ for users of its product.

Financial instrumentation moving on-chain is a process that is expected to continue as the DeFi market continues to grow. Bumper’s announcement of the launch of their new DeFi price protection protocol may be greeted with interest, as traders and investors look for ways to smooth the cryptocurrency’s market’s famed volatility during the 2021 trend of increasing adoption of distributed ledger technologies.

Contact person: Jason Suttie
Email: [email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/103632

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

Revolutionizing Fintech: 6G Digital & Rune Nilsson’s FlexM Global in a Bold $12.5M Deal Shaking the Banking Industry

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Teletubbies Digital Companions to Launch on the Tezos Blockchain

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MetaPals, an AI digital companion platform, is partnering with WildBrain’s beloved Teletubbies to bring together cherished childhood memories and the innovative digital era with the launch of the Teletubbies AI digital companions on 20 April, 2024.
As Teletubbies commemorates its 27th anniversary on 31 March, the collaboration marks the beginning of an exciting array of renowned IPs joining the ‘MetaPals Multiverse’ in 2024. Through the use of AI and blockchain technology powered by Tezos, much loved Tinky Winky, Dipsy, Laa-Laa, Po, and even Noo-Noo have become personalized, evolving digital companions within the MetaPals browser extension game engine.

The Teletubbies characters integrate with users’ daily browsing experience that accompanies users across the web, offering both playful interactions and practical assistance. This technology not only brings these fun characters to life in new, interactive ways, but also helps to enhance the mental well-being of users by fostering a sense of companionship.

Each Teletubbies companion within the MetaPals Multiverse will exhibit unique personality traits, offering users a diverse and dynamic experience. With personalities distributed across 5000+ Teletubby companions along a spectrum, users are guaranteed a one-of-a-kind experience, ensuring enjoyment for all and opportunities to foster new connections with this nostalgic brand.

Max Giammario, CEO of MetaPals, said: “Through this collaboration we’re not just revisiting Teletubbyland, we’re reinventing it for the digital age. By weaving in AI and blockchain, we enable the Teletubbies characters to evolve, interact, and form unique bonds with users, embodying our vision of dynamic digital companionship. With a bit of ‘MetaPals magic’, the Teletubbies are exploring beyond the hills and far away, ready to play, in ways we’ve never imagined.”

Melissa Goodrich, Director, Franchise Strategy at WildBrain, said: “We’re excited to see our colorful quartet come to life in new ways through this unique digital experience for fans. As we celebrate 27 years of the perennially popular Teletubbies franchise, this latest collaboration encapsulates the essence of childhood nostalgia while embracing the limitless possibilities of the digital age.”
Jason Lim, TZ Apac Games Adoption Team for the Tezos Ecosystem, said: “MetaPals will be pioneering the convergence of iconic IPs such as Teletubbies with the limitless possibilities of the Tezos blockchain. I can’t wait to see the magic they are brewing up next.”

The post Teletubbies Digital Companions to Launch on the Tezos Blockchain appeared first on HIPTHER Alerts.

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Alarum Announces Exciting Events Lineup and Welcomes Esteemed Advisor to NetNut’s Advisory Board

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